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- David McKee on Sibella scandal spreads; Supremes forestall Seminoles
- Ray Lebowski on Sibella scandal spreads; Supremes forestall Seminoles
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Category Archives: Economy
Caught between a skank and a Hard Rock; Kasich vs. casinos
Morgans Hotel Group may have skedaddled out of Las Vegas, tail firmly between legs, but it’s not free of trouble linked to its calamitous Sin City sojourn. During Morgans stewardship of the Hard Rock Hotel & Casino, it offered $300,000 … Continue reading
Why is this man smiling? (And other Case Bets)
Because Sen. Harry Reid‘s decision not to importune lenders on behalf of Fontainebleau (unlike CityCenter) means he steered clear of a widening circle of litigation and recrimination, that’s why. Among those in the hot seat are hapless James Packer and … Continue reading
Let’s do the Time Warp
Hallucinations are not considered a symptom of fibromyalgia but I sure thought I was seeing things yesterday when noon-hour TV newscasts led with Union Village. Somebody obviously thinks it’s still 2007, as they’re proposing a $1.5 billion, 171-acre hospital-cum-retirement-community complex … Continue reading
Posted in Boulder Strip, Current, Economy, Harrah's, Lake Tahoe, Station Casinos, Steve Wynn, Tourism, TV, Wall Street
1 Comment
As Steve Wynn said …
… you have to admire Donald Trump because it’s not easy to go bankrupt when you own three casinos. The years! The billions! The hairdos! His current ego-gratification tour is taking him to Arizona. I dare him to come on … Continue reading
Posted in Atlantic City, Current, Donald Trump, Economy, Election, Steve Wynn, The Strip, Wall Street
3 Comments
Cantor’s new brand: Slots for tots
Other than as a medium for sports betting, mobile-gambling devices have resolutely failed to catch on in Las Vegas casinos. Provider/operator Cantor Gaming has made a few inroads but mostly at one-off properties like M Resort and the Hard Rock … Continue reading
The North Strip Story and Salvation Plan
Guest blogger Jeff in OKC returns, his previous dispatch on Downtown’s Western Casino having proven a smash hit; its fans included Western manager Anthony Santo himself. During his latest visit, he concentrated upon the north end of the Las Vegas … Continue reading
Salvation for Illinois? “Golden Boys” strike again
According to lobbyists for MGM Resorts International‘s Grand Victoria riverboat, the smoking ban in Illinois has stove in casino revenues by 33%. Statewide, the average is -28% since 2008 — costing the state no small amount of tax monies — … Continue reading
Posted in Boyd Gaming, Current, Economy, Florida, Harrah's, Illinois, Indiana, Internet gambling, MGM Mirage, Politics, Regulation, Sports, Station Casinos, Taxes, Tilman Fertitta, TV
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Florida rejects Adelson; Mixed signals from Cosmo; Station’s quixotic quest
It’s all over — until 2012, anyway — for Sheldon Adelson‘s heavy-handed push to ram a set of “destination resorts” through the Florida Legislature. A poison-pill amendment, attached at the behest of parimutuels, would let existing slot houses go to … Continue reading
Posted in Boulder Strip, CityCenter, Cosmopolitan, Current, Economy, Entertainment, Florida, International, Macau, North Las Vegas, Politics, Racinos, Regulation, Sheldon Adelson, Station Casinos, Steve Wynn, The Strip, Tourism, Tribal, Wall Street
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Woe on the North Strip
Owners of the Riviera and the Las Vegas Hilton published their respective annual reports and it wasn’t a good day for the north end of the Strip, where bargain-priced casinos fight a holding action against the market forces of the … Continue reading
Posted in Colony Capital, Colorado, Current, Economy, Goldman Sachs, International, MGM Mirage, Ohio, Riviera, Sahara, Sheldon Adelson, The Strip, Tourism, Wall Street
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Quote of the Day
“Complaining about high gasoline prices in a free-market economy is a bit like doing the proverbial at the wind.” — Richard Quest on CNN‘s Your Money, last Saturday.
Posted in Current, Economy, Tourism, Transportation, TV
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Terry the Casino Slayer
When Iowa Gov. Terry Branstad (R) was campaigning to reclaim his old office from Chet Culver (D), he argued against Culver’s casino-expansion plan, arguing that it was economically inadvisable. With the Iowa casino market not so much saturated as waterlogged, … Continue reading
Posted in Ameristar, Atlantic City, Current, Economy, Election, Harrah's, Herbst Gaming, Illinois, Indiana, Internet gambling, Iowa, Isle of Capri, Penn National, Politics, Stanley Ho, Taxes, Tribal
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Gimme, Gimme, Gimme
… some money after midnight: Evidently it’s not enough that gaming revenues and other casino-related retail taxes underwrite the State of Nevada. Lawmakers would extend a grubby mitt into the casino kitty and scoop up any unclaimed moolah. “[W]hy does … Continue reading
Posted in ABBA, Cretins, Current, Donald Trump, Economy, Election, Horseracing, Louisiana, Ohio, Penn National, Pinnacle Entertainment, Politics, Racinos, Texas, TV, Wall Street
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Old wine, new bottles
“[W]e’re not selling a shoe or a bottle of water. We’re selling an experience,” says Isle of Capri Casinos Vice President of Brand Marketing — and friend of S&G — Julia Carcamo (left). Those words should be engraved on certain … Continue reading
Posted in Current, Dining, Economy, Harrah's, Isle of Capri, Marketing, Missouri, Morgans Hotel Group, Sahara, Steve Wynn, The Strip
2 Comments
Quote of the Day
“The employees I talked to last night (interestingly enough) didn’t have it in for [Sahara owner Sam] Nazarian. They had truckloads of blame for the management [Navegante Group] he put into place. One said ‘He spends $400 million on this … Continue reading
The second coming
To follow the local media, you’d think Jesus Christ was returning to Earth at Caesars Palace. Instead, it’s Céline Marie Claudette Dion, who owns a just slightly smaller fanbase. Back when her first Caesars residency was announced, at a time … Continue reading
Posted in Cirque du Soleil, CityCenter, Current, Economy, Encore, Harrah's, history, The Strip, Tourism, TV
8 Comments
What makes Sammy run?
Scarcely was the ink dry on Sahara owner Sammy “The Naz” Nazarian‘s announcement of the property’s May 16 closure than rumors began to fly about his endgame for the old gal. At S&G, we’re pretty certain that “The Naz” (™ … Continue reading
Posted in Alex Yemenidjian, Boyd Gaming, California, Carl Icahn, CityCenter, Colony Capital, Columbia Sussex, Cosmopolitan, Current, Economy, Fontainebleau, Herbst Gaming, M Resort, Marketing, MGM Mirage, Penn National, Regulation, Riviera, Sahara, Sheldon Adelson, Tamares Group, The Strip, Tourism, Tropicana Entertainment, TV, Wall Street
9 Comments
Quote of the Day
“It used to be that people were choosing between value and luxury. But since the recession they don’t have to choose: They can get value and luxury in the same place.” — David G. Schwartz, director of the Center for … Continue reading
R.I.P., Sahara (1952-2011)
Once the Riviera changed hands, the Strip casino for whom mortality seemed most imminent became the Sahara. The ‘death by a thousand cuts’ regime of nightclub impresario and absentee owner Sam Nazarian bled the place to the extent that there … Continue reading
Posted in Boyd Gaming, CityCenter, Colony Capital, Columbia Sussex, Current, Dining, Economy, Entertainment, Fontainebleau, Goldman Sachs, history, International, James Packer, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Pansy Ho, Plaza, Regulation, Riviera, Sahara, Stanley Ho, Station Casinos, The Strip, Tourism, Transportation, TV, Wall Street
10 Comments
Good news from an unexpected source
Atlantic City hit the big 3-0 in February: 30 straight months on revenue declivity, says J.P. Morgan (31, according to Wells Fargo). However, the rate of decline (1.4%) was the smallest since April of last year. With Genting Bhd‘s racino … Continue reading